Limitations on Withdrawals Suspended
To assist our Members with the economic effects of COVID-19 and provide enhanced access to their funds, HEBFCU has suspended the Regulation D (Reg D) limits. This means that your Savings and Money Market accounts will not be subject to being converted to a checking account, or closed, and you will not be charged the $10 Excess Withdrawal service fee for seven or more withdrawals of any type.
We are able to make these changes because the Federal Reserve removed the transaction limit under Reg D and the National Credit Union Administration (NCUA) authorized credit unions to waive limits on these transactions. Previously, this restricted Savings and Money Markets to six withdrawals per statement period.
As always, you can make unlimited ATM withdrawals from your Savings accounts at no charge.
Only transactions made by our Tellers will be subject to HEBFCU’s Savings Withdrawal Limit Fee of $5.00 if more than four transactions are made in a statement period. This includes withdrawals made by a Teller at the branch, or a transaction to pay certain NSF items.
If you have questions, please contact us at 210.938.7850.